Business Economics, BBA
Program Description
The Business Economics program integrates economics with courses in marketing, management, accounting, finance and quantitative analysis. Economics as a discipline is positioned at the intersection of social science and business, so has a great relevance for an extremely wide range of business and public policy issues, thereby providing our successful graduates with great career prospects in both the private and public sectors. By combining the study of economics (the scientific study of how society manages its scarce resources) and business, our degree provides a strong theoretical and professional basis for a successful and rewarding career. Business economics majors gain the skills to gather and analyze data for solving problems affecting companies, governments and non-profit organizations. The program includes basic courses in all business disciplines as well as in economics, and develops the skills that graduates need to work in a wide range of industries. The skillset includes understanding of the incentives that affect human behavior, the operation of markets and the strategic decisions of businesses and governments, both locally and internationally.
Career Possibilities: Many students choose to further their studies in graduate school, especially in business and law schools. Career possibilities for students who graduate with a major in business economics include: Data Analytics, Strategic Pricing and Modeling, Financial Analysis and Modeling, Operations Research and Management, Labor and Employment Relations, Banking and Investment Banking; Treasury and Securities, International Trade and Logistics, Commodity Specialist, Marketing Research, Consumer Goods Research and Analysis, Business and Economic Consulting, Insurance and Financial Advising, High School Teaching and Community Education, Government Work; Labor Statistics, Office of the Comptroller of the Currency, other governmental agencies.
This major is offered on the Island Campus and fully online.
Students should complete the Business Foundation Curriculum in the freshman and sophomore years.
BBA Student Learning Goals and Objectives
- G1. To Be Effective Communicators
- CG1.O1 – Demonstrate the ability to write professionally
- CG1.O2 – Prepare and deliver professional presentations
- CG1.O3 – Practice professional interactions
- G2. To Be Competent in Business Practices
- CG2.O1 – Demonstrate key concepts in business disciplines
- CG2.O2 – Use technology to analyze relevant data
- G3. To Be Good Decision Makers
- CG3.O1 – Identify key factors for decision making
- CG3.O2 – Analyze alternative solutions and make a decision
- G4. To Be Good Citizens
- CG4.O1 – Identify ethical concepts
In addition, all Economics Majors will demonstrate the ability to identify (valid, reliable, and important) information relevant to the issue being studied.
General Requirements for BBA Degree
| Requirements | Credit Hours |
|---|---|
| Core Curriculum Program | 42 |
| First-Year Seminars (when applicable)1 | 0-2 |
| Business Core | 45 |
| Economics Major Requirements | 24 |
| Electives | 9 |
| Total Credit Hours | 120-122 |
- 1
Full-time, first time in college students are required to take the first-year seminars.
Program Requirements
| Code | Title | Hours |
|---|---|---|
| Full-time, First-Year Students | ||
| UNIV 1101 | University Seminar I * | 1 |
| UNIV 1102 | University Seminar II * | 1 |
| Core Curriculum Program | ||
| University Core Curriculum | 42 | |
| Business majors are required to complete as part of their University Core Curriculum Program: | ||
| Macroeconomics Principles * | ||
| Mathematics for Business and Social Sciences 1 | ||
| Business Core | ||
| BUSI 0011 | COB Orientation 2,* | 0 |
| ACCT 2301 | Financial Accounting | 3 |
| ACCT 2302 | Managerial Accounting | 3 |
| BAIS 2301 | Computer Applications in Business | 3 |
| BAIS 3310 | Management Information Systems Concepts | 3 |
| BAIS 3311 | Data Analysis and Statistics | 3 |
| BLAW 3310 | Legal Environment of Business * | 3 |
| ECON 2302 | Microeconomics Principles * | 3 |
| FINA 3310 | Financial Management * | 3 |
| MATH 1325 | Calculus for Business & Social Sciences 1 | 3 |
| MGMT 3310 | Principles of Management | 3 |
| MGMT 3315 | Business Communications * | 3 |
| MGMT 4388 | Business Strategy * | 3 |
| MKTG 3310 | Principles of Marketing * | 3 |
| OPSY 4314 | Operations Management * | 3 |
| International Business Course | ||
| Select one of the following depending on major: | 3 | |
| Multinational Entities: Accounting and Consolidations (for Accounting Major) 3,* | ||
| International Economic Issues (for Business Economics Major) | ||
| International Finance (for Finance Major) | ||
| Multinational Management (for Management Major) * | ||
| International Marketing (for Marketing Major) | ||
| International Business (for all other Majors) | ||
| Economics Major Requirements | ||
| ECON 3310 | Intermediate Macroeconomics | 3 |
| ECON 3311 | Intermediate Microeconomics | 3 |
| ECON 3312 | Money and Banking | 3 |
| ECON 3322 | Managerial Economics | 3 |
| ECON 4310 | Introduction to Econometrics | 3 |
| Economics Electives | ||
| Select 9 hours from the following: | 9 | |
| Environmental Economics | ||
| Public Finance | ||
| Labor Economics | ||
| Economics of European Integration | ||
| History of Economic Thought * | ||
| Current Topics in Economics | ||
| Directed Individual Study * | ||
| Internship in Economics | ||
| Electives | ||
| Upper-level Business Elective | 3 | |
| Business Elective | 3 | |
| Non-Business or Business Elective | 3 | |
| Total Hours | 122 | |
- 1
Higher level mathematics course may be accepted as a substitute with approval.
- 2
All Business Majors and Minors must complete BUSI 0011 COB Orientation (0 sch) before or during their first semester enrolled in upper-division Business courses.
- 3
ACCT 3318 Multinational Entities: Accounting and Consolidations (3 sch) may be taken as either International Business Course or as an Accounting Elective but not both.
- *
Online offering
- ^
Blended offering
Note:
Course prerequisites are strictly enforced.
Course Sequencing
| First Year | ||
|---|---|---|
| Fall | Hours | |
| BUSI 0011 | COB Orientation | 0 |
| Creative Arts Core Requirement | 3 | |
| ECON 2301 | Macroeconomics Principles | 3 |
| HIST 1301 | U.S. History to 1865 | 3 |
| ENGL 1301 | Writing and Rhetoric I | 3 |
| Life & Physical Science Core Requirement | 3 | |
| UNIV 1101 | University Seminar I | 1 |
| Hours | 16 | |
| Spring | ||
| COMM 1311 | Foundation of Communication | 3 |
| HIST 1302 | U.S. History Since 1865 | 3 |
| ECON 2302 | Microeconomics Principles | 3 |
| Language, Philosophy & Culture Core Requirement | 3 | |
| MATH 1324 | Mathematics for Business and Social Sciences | 3 |
| UNIV 1102 | University Seminar II | 1 |
| Hours | 16 | |
| Second Year | ||
| Fall | ||
| ACCT 2301 | Financial Accounting | 3 |
| Business Elective | 3 | |
| Component Area Option Core Requirement | 3 | |
| MATH 1325 | Calculus for Business & Social Sciences | 3 |
| POLS 2305 | U.S. Government and Politics | 3 |
| Hours | 15 | |
| Spring | ||
| ACCT 2302 | Managerial Accounting | 3 |
| Component Area Option Core Requirement | 3 | |
| Life & Physical Science Core Requirement | 3 | |
| BAIS 2301 | Computer Applications in Business | 3 |
| POLS 2306 | State and Local Government | 3 |
| Hours | 15 | |
| Third Year | ||
| Fall | ||
| BLAW 3310 | Legal Environment of Business | 3 |
| ECON 3310 | Intermediate Macroeconomics | 3 |
| ECON 3315 | International Economic Issues | 3 |
| BAIS 3310 | Management Information Systems Concepts | 3 |
| BAIS 3311 | Data Analysis and Statistics | 3 |
| Hours | 15 | |
| Spring | ||
| FINA 3310 | Financial Management | 3 |
| MKTG 3310 | Principles of Marketing | 3 |
| ECON 3311 | Intermediate Microeconomics | 3 |
| ECON 3312 | Money and Banking | 3 |
| Economics Elective | 3 | |
| Hours | 15 | |
| Fourth Year | ||
| Fall | ||
| MGMT 3310 | Principles of Management | 3 |
| ECON 3322 | Managerial Economics | 3 |
| Economics Elective | 3 | |
| OPSY 4314 | Operations Management | 3 |
| MGMT 3315 | Business Communications | 3 |
| Hours | 15 | |
| Spring | ||
| ECON 4310 | Introduction to Econometrics | 3 |
| Economics Elective | 3 | |
| Upper-level Business Elective | 3 | |
| MGMT 4388 | Business Strategy | 3 |
| Non-Business Elective | 3 | |
| Hours | 15 | |
| Total Hours | 122 | |
Courses
Non-technical introduction to the structure and functioning of the aggregate economy and selected specific markets. Basic concepts regarding how markets function, regulation, monetary and fiscal policy in a macroeconomic context and some special topics of contemporary relevance are studied. Students are introduced to the basic concepts used in the social and behavioral sciences for measuring and interpreting economic and business conditions. This course cannot be taken to fulfill the Business Core or any Business Major requirements. It is recommended that students who might be interested in majoring in business or economics, take either ECON 2301 or ECON 2302 instead.
An overview of how the economy of the United States is organized and functions in a market price system. Market processes are used to show how resources and incomes are allocated by households and businesses. Determination of national income, employment, price level, interest rates, and growth are the focus of simple analysis techniques. Monetary and fiscal policies are examined including their international dimensions. Satisfies the social and behavioral sciences component of the University core curriculum. A student taking remedial courses in Basic English (ENGL 0399) and/or Mathematics (MATH 0300) is not recommended to take this course concurrently.
Demand and supply, consumer behavior, elasticity, production costs, perfect and imperfect market structures and models of the modern market price system are analyzed. Emphasis is on use of marginal analysis to determine prices, output, income and economic welfare in a market price system. Satisfies the social and behavioral sciences component of the university core curriculum. A student taking remedial courses in Basic English (ENGL 0399) and/or Mathematics (MATH 0300) is not recommended to take this course concurrently.
Theory of the determination of aggregate income, employment and prices is examined. Focus is on the microeconomic foundations of aggregate demand: consumption, investment, foreign trade, and government. Macroeconomic models from the basic through the complete model are examined for the U.S. and global economies.
Examines supply and demand analysis, consumption theory, production theory, structure and performance of firms, efficiency of markets, and determination of general welfare in a market price system.
Description of the operations of banking and other financial institutions, examination of the basic tenets of monetary theory, analysis of monetary policy and its contribution to economic policy.
Evaluates and analyzes various contemporary issues in international economics, using elementary economic theory and recent economic and financial data. The course includes issues such as economic integration, regionalization and globalization, international trade issues, the structure and role of international economic organizations, the foreign exchange market, and economic issues in developing countries.
Prerequisite: (ECON 2301).
Uses economic analysis to examine the underlying causes of environmental and natural resource problems, as well as alternative policy issues. The choice of environmental protection goals and the means of achieving them are analyzed and applied to the cases of air pollution (local and global), water pollution, and toxic pollution. The environmental policies of various countries are compared and studied from an economic perspective.
This course examines the role that government plays in the economy. The course discusses the conditions for economic efficiency to be achieved and circumstances where a market fails. It also presents the concepts of public goods and the aggregation of individual preferences into collective priorities as expressed by the general public through the political process. Topics include taxation, welfare economics, environmental and health externalities, cost-benefit analysis, and government budget.
Emphasis is on the use of economic principles to make sound business decisions. Students will use economic analysis, knowledge of markets and organizations to address real-world problems. The course emphasizes the role of the business economist as a member of the management team trying to find ways to improve the use of resources available to an organization.
Prerequisite: (ECON 2302).
The study of labor theory and labor market processes to explain how household labor decisions are made and how household incomes are determined. The effects of labor market imperfections, and the effects of business decisions and labor unions on labor market outcomes are also evaluated. Provides an overview of the U.S. labor movement, including its impact on federal legislation; labor theory; and contemporary labor issues. The effects of federal legislation are examined, including those on the competitiveness of U.S. labor in a global economy.
The Economics Exit Exam (EEE) is an exam given in the Fall and Spring semesters only. It is a graduation requirement for all students with a BBA degree in Economics. Students enroll in this course during the semester that they plan to take the EEE. Admission is limited to students who have completed 90 or more semester credit hours.
A study of the analysis of quantitative data, with special emphasis on the application of statistical methods to economic problems. The course covers the theory and practice of ordinary least squares regression, application to economics and finance, and selected special topics. Topics include heteroskedasticity, multicollinearity and autocorrelation, qualitative independent and dependent variables, and simple time-series analysis. ECON 2301, ECON 2302, BAIS 3311 (or MATH 1324 or equivalent) and Junior standing or above.
An introduction to the economics of Western Europe, and by implication, the economic functions of the institutions of the European Union (EU). Students are introduced to economic policy issues which are currently of concern in the European Union, and the analysis of economic problems which are of particular relevance to European Union member states. These include (but are not limited to) the theory of customs unions, optimal currency area theory, the single market, competition policy, and the external trade and development policies of the EU.
A consideration of the philosophical basis, historical context, and development of economic thinking. Focuses on pre-20th-century economists-the Mercantilists, the Physiocrats, Adam Smith, David Ricardo, Karl Marx, and early neoclassical economists. Attention is also given to later economists and schools of thought as continuations and modifications of earlier ideas in economics. ECON 1301, or ECON 2301, or ECON 2302 and Junior standing or above.
Selected topics for special study related to economics, the functioning of the economy or economic issues. May be repeated for credit when topics vary.
Prerequisite: (ECON 2301).
Individual supervised study and a final report.
Supervised full-time or part-time, off-campus training in a service, manufacturing, or public sector position. Oral and written reports required.